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dejiazheng · 2023年04月09日

不理解The number of depository receipts issued affects their price but does not affect the returns.

NO.PZ2022061307000053

问题如下:

Question Returns from a depository receipt are least likely affected by which of the following factors?

选项:

A.Exchange rate movements B.Number of depository receipts C.Analysts’ recommendations

解释:

Solution

B is correct. The price of each depository receipt (and, in turn, returns) will be affected by factors that affect the price of the underlying shares—such as company fundamentals, market conditions, analysts’ recommendations, and exchange rate movements. The number of depository receipts issued affects their price but does not affect the returns.

A is incorrect. The price of each depository receipt (and, in turn, returns) will be affected by such factors as company fundamentals, market conditions, analysts’ recommendations, and exchange rate movements.

C is incorrect. The price of each depository receipt (and, in turn, returns) will be affected by such factors as company fundamentals, market conditions, analysts’ recommendations, and exchange rate movements.

请老师再讲讲各个选项的原因?

1 个答案
已采纳答案

王园圆_品职助教 · 2023年04月09日

嗨,从没放弃的小努力你好:


同学你好,题目问以下哪个项目对DR的回报率没有影响?

A汇率变动——举个例子,一个中国投资者投资了ADR,先把人民币换成美元进行投资,但是最后要计算投资收益的时候需要把美元ADR的收益再转换成人民币收益率,就会受汇率变动的影响——如投资ADR获得正收益,人民币升值,那收益就会没有那么高

B选项DR的份数——这就跟股票原理一样,一个股票在市场上发行多少份额是不影响它的收益率的(类似于拆股并股不会影响股票收益率)

C分析师的推荐——就跟股票一样分析师如果推荐一个DR,那买的人就会变多,价格就会上升,反之则下降——所以DR价格肯定受分析师推荐的影响

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